Earning a college degree is becoming increasingly important in today's economic climate and uncertain employment market. However, the cost of attending college is also becoming more expensive for many students, and some seniors aren't aware of the merit-based financial aid, like scholarships, that they may be eligible for.

Many schools are striving to make education more accessible for seniors from economically disadvantaged backgrounds. One such college is the University of North Carolina Chapel Hill, which recently awarded more than $2.8 million in scholarships to 143 college freshmen based on financial need and their academic achievements, according to the Winston-Salem Journal.

Depending on the major you choose, you could also be eligible for scholarships like those awarded by Gadsden State Community College in Alabama. The school recently received educational funding from the Department of Health and Human Services to offer scholarships to students of the school's nursing program from economically disadvantaged backgrounds, according to the Gadsden Times.

Many seniors aren't aware that you don't need to be a varsity athlete in order to qualify for scholarships. Talk to your college admissions adviser about the packages that may be on offer, and how to apply for them.